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Tennessee Unemployment Rate Drops Again

The Tennessee Department of Labor and Workforce Development released a report stating that at 4.5 percent, Tennessee’s unemployment rate is currently at its lowest since June 2007. The state’s unemployment rate has decreased four-tenths of a percentage point from the February rate of 4.9 percent. The U.S. preliminary rate for March was 5.0 percent, increasing one-tenth of a percentage point from the previous month.

“We’ve worked hard to create the right environment for job creation, and today more Tennesseans have jobs than ever in the state’s history,” Tennessee Gov. Bill Haslam said. “While this is always outstanding news for Tennessee’s economy and its workforce, it is even better news for the families throughout our state.”

Tennessee is also exceeding in private sector employment, and our labor force is growing exponentially. To date, TNECD has secured 4,962 job commitments from 52 companies representing an investment of $822 million.

“This is an unprecedented and historic improvement in our economy. Better yet, our pipeline of prospects considering to locate in Tennessee is over 56,000!” TNECD Commissioner Randy Boyd said.

Tennessee employers have tens of thousands of open positions for qualified applicants across the state. With Tennessee’s latest unemployment rate at 4.5 percent for March, there is an abundance of job openings across the state.

“With the continued decline in the state’s unemployment rate, workers have many opportunities available to them when looking for a job. In March, our Jobs4TN.gov website had over 175,000 job openings across the state’s 95 counties,” Tennessee Department of Labor and Workforce Development Commissioner Burns Phillips said.